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2017-09-13 07:50:55

VIA

Viacom

$36.70

-0.1 (-0.27%)

, VIAB

Viacom

$27.11

-0.08 (-0.29%)

07:50

09/13/17

09/13

07:50

09/13/17

07:50

Viacom's MTV sees first summer of ratings growth in six years, Reuters says

Viacom's MTV network reported its first summer of consecutive ratings improvement year-over-year in six years, suggesting the network is making progress in attracting young viewers back to its channels, Reuters reports, citing the company. The news comes amid a company turnaround under new CEO Bob Bakish to bolster declining ratings and ad revenue through a focus on six core networks including MTV, which has recently hired new creative talent, updated existing shows and increased social media outreach. Reference Link

Bernstein analyst Todd Juenger says that Viacom could drop to $2.50 per share if its current $3B EBITDA drops to $2B, and its EBITDA multiple drops to six times. The analyst says that this scenario is "not crazy," since the company's EBITDA fell 33% from fiscal 2014 to fiscal 2016 "during a rip-roaring advertising market and the early days of cord-cutting." He keeps a $29 price target and Underperform rating on the shares.

Loop Capital analyst David Miller believes Viacom's "Transformers" franchise is "somewhat long in the tooth" and he sees both the opening weekend and overall domestic grosses for the fifth installment, "The Last Knight" to be muted. He does note, though, that he expects international results to be "quite strong" for the film. Miller keeps a Hold rating on Viacom and lowered his price target to $37 from $39.

07/17/17

JPMS

07/17/17NO CHANGEJPMSOverweight

Viacom shares offer 'great value' at current levels, says JPMorgan

JPMorgan analyst Alexia Quadrani says Viacom over the past few months experienced improving ratings across several of its key networks, which she believes supports a positive outlook for advertising improvement. Shares of Viacom present "great value at these levels," Quadrani tells investors in a research note. She reiterates an Overweight rating on the stock.

09/05/17

WELS

09/05/17DOWNGRADETarget $32WELSMarket Perform

Viacom downgraded to Market Perform from Outperform at Wells Fargo

Wells Fargo analyst Marci Ryvicker downgraded Viacom (VIAB) to Market Perform and lowered her price target for the shares to $32 from $43. Investors may need to start increasing exposure to media companies with solid streaming strategies given the push into over-the-top, and Viacom does not have one, Ryvicker tells investors in a research note. The analyst does not see much visibility into a turnaround for Viacom's affiliate fee growth. Ryvicker this morning also upgraded Disney (DIS) to Outperform.

VIABViacom

$27.11

-0.08 (-0.29%)

08/04/17

ATLE

08/04/17DOWNGRADEATLEUnderweight

Viacom downgraded to Underweight from Neutral at Atlantic Equities

08/04/17

EVER

08/04/17NO CHANGETarget $48EVEROutperform

Evercore ISI would be a buyer of Viacom near-term weakness at Evercore ISI

Evercore ISI analyst Vijay Jayant would use weakness in Viacom share related to disappointing guidance as a buying opportunity. The analyst believes the company is heading int the right direction under new CEO Bob Bakish, and said there are some early signs that his restructuring plan is working. Jayant rates Viacom an Outperform with a $48 price target.

09/05/17

WELS

09/05/17UPGRADETarget $116WELSOutperform

Disney upgraded to Outperform from Market Perform at Wells Fargo

Wells Fargo analyst Marci Ryvicker upgraded Disney (DIS) to Outperform and raised her price target for the shares to $116 from $109. The owner of ESPN and ABC closed Friday up 31c to $101.50. Concerns over potential dilution from the BAMTech stake and the streaming apps are "widely overdone," Ryvicker tells investors in a research note where she also downgraded Viacom (VIAB). She expects the TV ecosystem will soon undergo on an accelerated push into over-the-top. As such, investors may need to start increasing exposure to media companies with solid streaming strategies, such as CBS (CBS), 21st Century Fox (FOXA), and Disney, and lessen exposure to those that do not, such as Viacom and Scripps Networks (SNI)/Discovery Communications (DISCA), Ryvicker argues. The analyst likes the current entry point for Disney shares.

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